New Found Gold Corp. (CVE:NFG – Get Free Report) shares dropped 29.3% during mid-day trading on Wednesday . The company traded as low as C$1.55 and last traded at C$1.59. Approximately 6,227,355 shares traded hands during trading, an increase of 1,074% from the average daily volume of 530,354 shares. The stock had previously closed at C$2.25.
New Found Gold Price Performance
The company has a fifty day moving average price of C$2.50 and a 200 day moving average price of C$2.79. The company has a market cap of C$323.51 million, a PE ratio of -5.61 and a beta of 0.56.
About New Found Gold
New Found Gold Corp., a mineral exploration company, engages in the identification, evaluation, acquisition, and exploration of mineral properties in the Provinces of Newfoundland and Labrador, and Ontario. It primarily explores for gold deposit. The company holds 100% interests in the Queensway project that includes 96 mineral licenses and 6,659 claims covering an area of 166,475 hectares of land located near Gander, Newfoundland.
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